Common use of WITHDRAWAL OR REVISION OF PROPOSALS Clause in Contracts

WITHDRAWAL OR REVISION OF PROPOSALS. A. A Bidder may, without prejudice, withdraw a Proposal after it has been deposited with the Owner, provided the request for such withdrawal is received by the Owner, in writing or by telegram, before the time set for opening Proposals. Telephonic communications shall not be accepted. After opening of Bids, no Proposal may be withdrawn by the Bidder for a period of 45 Days or as otherwise required by law. B. Any Bidder may modify his Bid by telegraphic communication any time prior to the scheduled time for opening Proposals, provided such telegraphic communication is received by the Owner prior to the opening of Proposals, and, provided further, the Bidder provides compelling evidence that a written confirmation of the telegraphic modification over the signature of the Bidder was mailed prior to the opening of Proposals. The telegraphic communication should not reveal the Bid price but should provide the addition or subtraction or other modification so that the final prices or terms will not be known by the Owner until the sealed Bid is opened. If written confirmation is not received within two (2) days after the scheduled time for opening Proposals, no consideration will be given to the telegraphic modifications.